Marco Antonio Ramirez, an American businessman, was convicted on Tuesday by Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, for a $1.2 million EB-5 visa scam.
In addition, Justice Dada convicted Ramirez for a separate fraud amounting to $368,698.24.
Ramirez, along with his companies,USA NOW LLC, Eagle Ford Instalodge Group LP, and USA Now Energy Capital Group LP, was prosecuted by the Economic and Financial Crimes Commission (EFCC) for allegedly defrauding victims of $1,235,000 in an EB-5 visa scam. He had claimed the money was for processing fees tied to investments in his company, USA Now Energy Capital Group LP, which would make the investors eligible for U.S. Green Cards through the Employment-Based Fifth Preference (EB-5) Investor Program. However, he allegedly failed to fulfill this promise.
According to a statement by Dele Oyewale, the EFCC’s Head of Media and Publicity, Ramirez was initially arraigned on a 12-count charge and pleaded “not guilty.” He was later re-arraigned on June 24, 2022, on an amended 16-count charge.
One of the charges states that Ramirez and his companies converted $545,000, belonging to Godson Onyemaechi Echegile, for personal use. Another charge accuses him of dishonestly converting $314,800 and $230,000 from Abubakar Umar Sadiq.
Throughout the trial, the EFCC presented evidence and witnesses to support the allegations. Ramirez, who was represented by Lawal Pedro, SAN, also testified in his defense. However, the case experienced several adjournments before concluding on May 8, 2024. Justice Dada adjourned the matter until September 10, 2024, for judgment.
In the verdict delivered on Tuesday, Justice Dada ruled that the prosecution had proven its case beyond a reasonable doubt. Ramirez was sentenced to 10 years for each of the 12 counts related to obtaining money by false pretenses and 10 years for each of the four counts of stealing.
On the same day, Ramirez was also found guilty on an additional nine-count charge involving $368,698.24. One count stated that Ramirez obtained $250,000 from Gabriel Ogie Edeoghon under the false pretense that it was an investment in the EB-5 visa program, while another count charged him with obtaining $50,281.33 from Oludare Talabi under the pretense of securing a U.S. L1 visa.
Ramirez had pleaded “not guilty” to the separate charges. Similar to the previous case, the EFCC presented documentary evidence and witnesses. Despite delays caused by the defense, the final written addresses were adopted on May 8, 2024.
In this case, Justice Dada also ruled that the prosecution had proven its case beyond reasonable doubt, sentencing Ramirez to eight years for each of the first six counts and 10 years for counts seven and eight.
